Foreign Investment Reform (Protecting Australia's National Security) Act 2020 (114 of 2020)

Schedule 1   Main amendments

Part 3   Application and transitional provisions

Division 2   Other amendments

244   Application-time limits and decision period extensions

(1) Section 77 of the Foreign Acquisitions and Takeovers Act 1975, as substituted by this Schedule, and section 77A of that Act, as inserted by this Schedule, (the time limit provisions ) apply, subject to subitem (2), in relation to events set out in the table in subsection 77(6) (as so inserted) that occur on or after 1 January 2021.

(2) However, for the event set out in item 5 of the table in subsection 77(6) of that Act, the time limit provisions do not apply if the order or decision under Division 2 of Part 3 of that Act that was set aside by a court was purported to be made before 1 January 2021.

(3) Section 77 of that Act, as in force immediately before its repeal by this Schedule, continues to apply in relation to notices received by the Treasurer before 1 January 2021, as if that repeal had not happened.